Daytona Beach, Florida, offers a unique opportunity for investors to capitalize on the city's strong tourism industry and growing economy through the acquisition of retail properties. With a rich history in motorsports and a reputation for hosting high-profile events like the Daytona 500 and Bike Week, Daytona Beach attracts a large and diverse crowd of visitors each year. Retail properties in the area can benefit from the city's extensive infrastructure, including major roads like I-95 and I-4, as well as the Daytona Beach International Airport. The city's educational institutions, such as Bethune-Cookman University and Embry-Riddle Aeronautical University, also contribute to the local economy and provide a steady stream of customers for retail businesses. Additionally, the city's scenic beaches and waterfront parks offer a unique and attractive environment for businesses to operate in. With a total of 31 retail properties available for sale, investors have a range of options to choose from, with average prices per square foot of $335 USD and average property sizes of 11,304 square feet.
Daytona Beach's retail properties offer a compelling investment opportunity due to the city's strong tourism industry and growing economy. The city's shopping centers, such as the Ocean Walk Shoppes, offer a range of retail and dining options for visitors. Restaurants in the area, like the famous Joe's Crab Shack, cater to the city's large tourist population. Office properties, such as those found in the downtown area, provide a hub for businesses and entrepreneurs. Hotels, like the Daytona Beach Hilton, offer accommodations for visitors and contribute to the local economy. With its unique blend of tourism, education, and industry, Daytona Beach provides a diverse and attractive environment for retail businesses to thrive. The city's average cap rate of 6.61% and largest property size of 90,538 square feet make it an attractive option for investors looking to capitalize on the city's growing economy.
What is the average cap rate for retail properties in Daytona Beach?
When it comes to retail properties in Daytona Beach, investors can expect an average cap rate of 6.61%, which is a key metric to consider when evaluating potential investments. To learn more about how cap rates work and their significance in commercial real estate, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Daytona Beach, where tourism is a significant contributor to the local economy, retail property values are heavily influenced by location and foot traffic. Properties situated near popular attractions, such as the Daytona International Speedway, the beach, or major events like Bike Week, tend to command higher values due to their high visibility and accessibility, with an average price per square foot of $335 USD and an average size of 11,304 square feet, making them attractive investments for retailers and investors alike.
